Cooperation and Information Exchange In- and Outside the Banking Union: The Use of Memoranda of Understanding
(2026) EU Banking Union: Law, Institutions, and Co-operation — ISBN: [9780198949749], 423-443, published
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- This chapter analyses the growing use of memoranda of understanding (MoUs) in financial sector governance. MoUs play a central role in facilitating cooperation and information exchange between the European Central Bank (ECB), the Single Resolution Board (SRB), and authorities both inside and outside the Banking Union, reflecting the global operations of financial institutions and the need for cross-border supervisory coordination. Since 2016, the ECB has initiated numerous negotiations and concluded several new MoUs to support this cooperation. The chapter compares ECB–SRB agreements with MoUs concluded with national supervisory and resolution authorities in non-Banking Union Member States and third countries. It highlights the tension between ensuring effective cooperation and safeguarding judicial rights, a balance that shapes the debate on whether the EU requires stronger, binding instruments beyond soft law. Persistent political reluctance to adopt binding agreements remains a major obstacle, leaving key questions likely to resurface in future crises.
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Bauerschmidt, J., Fromage, ,. D., & Aichstill, V. (2026). Cooperation and Information Exchange In- and Outside the Banking Union: The Use of Memoranda of Understanding. In Jonathan Bauerschmidt, Raffaele D’Ambrosio, Diane Fromage, Daniela Jaros, Paul Weismann (ed.), EU Banking Union: Law, Institutions, and Co-operation (pp. 423-443). Oxford University Press. https://doi.org/10.1093/9780198949756.003.0022